Under the Sharecropping System, Poor Farmers Would

question 65

Multiple Choice

Under the sharecropping system, poor farmers would

• A) rent land from large landowners in exchange for half the crop produced on the land.
• B) work as wage laborers on the farms of large landowners.
• C) do handiwork on large farms in exchange food.
• D) receive a share of the crop from a large farm in an early version of a welfare system.
• E) pool their land and shared in whatever crops they produced.

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Definitions:

Variable Overhead

Costs of indirect materials, indirect labor, and other operations that fluctuate with the level of production output.

Direct Labor-Hours

A measure of the amount of time workers spend directly manufacturing a product or performing a service.

Materials Quantity Variance

The variance arising from the actual amount of materials utilized in manufacturing compared to the anticipated standard quantity, times the standard expense for each unit.

Labor Efficiency Variance

The variance between the number of hours actually worked and the anticipated standard hours, times the normal rate per hour.